The stock market has recently been under pressure due to a strengthening dollar, falling oil and negative news from China. Applications Obama only made matters worse. In the case of measures proposed by him, the bank”s profitability may be adversely affected, because vysokodohnodnogo part of their business will have to either make or sell. It is worth remembering that during the crisis, many investment banks turned into a commercial. In such banks especially many assets on their own positions.
Another factor could then be reduced by banks lending to each other under a pledge of securities, which will lead to an increase in rates on this market segment. Weight of the banking sector in the U.S. indices is quite high, which led yesterday to a significant drop in the indexes (Dow Jones fell by 2.01%).
Russia in the current market conditions, immunized from the strong fall by the continued flow of money. In the absence of this factor on the background of the fall of America”s 2% drop in our market would be much greater. Now the flow is mainly from western institutional clients, who somehow was involved in a limited growth in the last year and want to catch up. In the case of reduction of the flow - the market will decline at a faster rate if it continues - will reduce short-term and the market will resume growth. We believe that the vector can be given in the next two weeks.
In our opinion the best investment in this period will be investment in companies in the consumer sector against the background of reducing demand from the population. Shares of these companies will be less prone to fall, and will grow faster pace. &adfcmp;lt;/tr>
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